J.W. Cole Advisors Inc. Boosts Stock Position in Blackstone Inc. (NYSE:BX)

J.W. Cole Advisors Inc. grew its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 123.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,844 shares of the asset manager's stock after purchasing an additional 28,134 shares during the period. J.W. Cole Advisors Inc.'s holdings in Blackstone were worth $7,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BX. Norges Bank acquired a new stake in shares of Blackstone during the 4th quarter valued at $974,448,000. Capital Research Global Investors acquired a new position in Blackstone during the 4th quarter worth about $239,837,000. GAMMA Investing LLC lifted its holdings in Blackstone by 14,608.6% during the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock worth $184,873,000 after buying an additional 1,313,606 shares during the period. Vanguard Group Inc. lifted its holdings in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after buying an additional 889,286 shares during the period. Finally, FMR LLC lifted its holdings in Blackstone by 38.8% during the 4th quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock worth $515,577,000 after buying an additional 835,170 shares during the period. Institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average price of $25.22 per share, for a total transaction of $29,999,997.04. Following the completion of the purchase, the insider owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider owned 475,336 shares in the company, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,849,769 shares of company stock valued at $54,932,307. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of BX stock traded up $2.91 during trading on Tuesday, hitting $169.60. The company's stock had a trading volume of 2,007,545 shares, compared to its average volume of 3,845,780. The company has a market cap of $123.75 billion, a PE ratio of 51.13, a P/E/G ratio of 1.52 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $146.60 and a 200-day moving average of $150.39. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities lifted their target price on Blackstone from $165.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. TD Cowen lowered their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lowered their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Barclays reissued an "equal weight" rating on shares of Blackstone in a research report on Thursday, July 10th. Finally, Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $162.18.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.